Find out about the latest news in Madisonville, Louisiana as well as St. Tammany Parish. We will keep you “tuned in” to all of the information about Southeast Louisiana as well as the real estate industry in general. Many new home buyers are concerned about the market, mortgage information, and builder trends. We plan on keeping you as up to date as possible on these and many more topics. There is a lot going on in the Greater New Orleans area, so you will have plenty to read!

Choosing the Right Roofing Materials: Expert Advice for Homeowners

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When the time comes to replace your roof, the materials you choose are crucial. It’s not just about aesthetics—durability, maintenance, and cost all play significant roles in this significant home improvement decision. With the rising popularity of various roofing materials, homeowners often find themselves weighing the pros and cons of composite versus asphalt shingles.

Asphalt shingles have long dominated the roofing industry due to their affordability, ease of installation, and lightweight nature. Many homeowners lean towards asphalt, believing it to offer a solution free from the durability issues associated with natural materials like slate or wood shake. However, the reality doesn’t always meet expectations.

Despite its advantages, asphalt roofing can fall short in longevity and aesthetic appeal. Homeowners often find that asphalt shingles can’t replicate the natural beauty of slate or shake, limiting their design potential. Additionally, these shingles may not withstand severe weather conditions as well as hoped, leading to premature damage and additional costs.

Enter synthetic slate and shake roofing—materials that have seen a surge in popularity for those prioritizing both durability and curb appeal. Composite shingles are designed to mimic the look of natural roofing materials while offering superior resistance to the elements. Unlike asphalt, composite tiles are less likely to rot, crack, or curl. They can endure high winds, hail, and are impervious to algae and moss growth, which commonly afflict asphalt roofs.

When deciding between composite and asphalt, consider the following:

– Composite tiles from brands like DaVinci Roofscapes are engineered to withstand severe weather conditions, from high winds to hail, without sustaining damage.
– If you’re aiming for a roof that complements your home’s design while providing the look of natural materials, composite is the clear choice. It offers a range of styles and colors, unlike the more uniform appearance of asphalt.
– While asphalt shingles may lose granules or become damaged over time, leading to clogged gutters and reduced functionality, composite roofing maintains its integrity and appearance with minimal upkeep.
– Composite roofing materials come with extended, if not lifetime, warranties, overshadowing the shorter lifespan and coverage offered by typical asphalt shingle warranties.

Choosing a roof involves considering the long-term implications of your decision. Synthetic roofing options like DaVinci’s Select Shake tiles not only provide the appearance of natural materials but also come with the added benefits of being fire-resistant and low-maintenance. These features not only enhance your home’s safety and aesthetics but may also lead to savings on homeowner insurance premiums due to their fire and impact resistance.

Before making a decision, it’s advisable to consult with roofing professionals who can provide insights specific to your home’s location, climate, and architectural style. Additionally, exploring resources such as the RoofersCoffeeShop® Contractor Directory can connect you with local experts who can guide you through the selection process.

In conclusion, while asphalt roofing may initially seem like a cost-effective solution, the long-term benefits of composite roofing—ranging from durability to aesthetic appeal—make it a worthy investment for homeowners looking for peace of mind and lasting value. Remember, a dream home deserves a dream roof, and selecting the right materials is the first step towards achieving that vision.

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A Pillar of the Community: The Evolution of Braswell Drugs in Covington

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In the heart of Covington, a city that has seen remarkable growth over the decades, stands Braswell Drugs, a testament to the community’s evolution and the enduring value of local businesses. Jerry Braswell, who, alongside his wife Wanda, opened the drug store on Tyler Street in 1981, reminisces about the early days when Covington was “still very much a small town,” a time when the trip to the interstate was a quiet journey past only seven cars.

From its humble beginnings, Braswell Drugs has mirrored the expansion of Covington, transitioning from a small pharmacy to a significant local establishment. In 1995, the Braswells rebuilt their store into a larger facility, maintaining close ties with the growing St. Tammany Parish Hospital, now known as St. Tammany Health System. This proximity to the hospital marked a pivotal relationship, influencing the pharmacy’s role in the community.

The story took a new turn in 2018 when the Braswells passed the baton to Emily Webber and Chris Martin. However, following Webber’s passing and with Martin’s interests lying in Alabama, the store found a new owner this fall — St. Tammany Health System itself. The acquisition, spearheaded by Joan Coffman, President and CEO of the health system, was a strategic move aimed at expanding the hospital’s retail arm within the community.

The transaction, exceeding $2 million, is not just a business deal but a commitment to preserve the legacy of Braswell Drugs. Coffman assures that the pharmacy will retain its name and continue to operate without significant changes, ensuring that the 19 employees, many of whom have become as familiar to customers as family, will retain their roles.

The essence of Braswell Drugs extends beyond its products and services; it’s encapsulated in the personal touch and the high level of customer service that have become increasingly rare in the age of giant retail pharmacies. Paula Fricker, the pharmacy manager since 1989, emphasizes the importance of personal connections, from knowing each customer by name to ensuring rapid service that still carries the warmth of a neighborhood store.

This local touch is crucial in a sector as vast as the prescription drug business, which reported a staggering $601 billion in sales in 2021. While competing with pharmacy giants like Walgreens and CVS, Braswell Drugs has maintained its unique charm and service level, a testament to Jerry Braswell’s initial vision and the community’s loyalty.

The transformation of Tyler Street, from a quiet country road to a bustling thoroughfare with nearly 34,000 daily vehicles, symbolizes the dramatic changes that Braswell Drugs and Covington have undergone. Yet, despite these changes, the essence of community and personal connection remains the cornerstone of the pharmacy’s enduring success.

Jerry Braswell reflects on the journey with a mix of nostalgia and pride, acknowledging the vast shift from knowing 90% of his customers by name to witnessing the city’s explosive growth. The story of Braswell Drugs is more than a business narrative; it’s a chapter in the larger story of Covington’s development, a testament to the enduring value of community, and a reminder of the personal touch that defines the best of local entrepreneurship.

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St. Tammany Parish Library Welcomes Families Back to Storytime

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After a festive pause, St. Tammany Parish Library is thrilled to announce the return of beloved Storytime events for young children and their families starting this month. The brief hiatus, dedicated to special holiday activities, has ended, and the library is ready to re-engage the community with the joy of reading and interactive learning.The image displays a refined bathroom featuring a double vanity with white cabinetry, marble countertops, and gold fixtures.

Beginning January 16, families can dive back into the magical world of books with programs like KIDS StoryTots and KIDS Play Date. Additionally, Family Storytime sessions are set to create memorable experiences for children and their guardians alike across various library branches.

Particularly exciting for the little artists is KIDS Story Art, held at the Madisonville and Covington Libraries. This unique event caters to children aged 2 to 5, encouraging them to unleash their creativity by crafting an artwork inspired by a children’s story. The best part? All necessary materials are provided, ensuring every child can participate and explore their artistic talents without any barriers.

No pre-registration is required for these enriching Storytime events, making spontaneous attendance as easy as a fairy tale. For those interested in planning ahead, the full schedule of events is available at the library’s official website, sttammanylibrary.org/events.

To keep patrons informed of all the happenings at the library, St. Tammany Parish Library offers the Bookrunner, an online newsletter. Launched digitally post-2017 and having carried the ‘Bookrunner’ title since 1996, the newsletter has evolved to better serve the community’s needs. Patrons can sign up directly on the library’s website or ensure their library card includes an email address to receive this informative bulletin.

The Friends of the Slidell Library are hosting their exclusive Used Book Preview Sale on January 19, followed by a public sale the next day, offering a treasure trove of books and more. Similarly, the Friends of the Library of West St. Tammany are holding their monthly Used Book Sale on the same dates, with bargains starting as low as 25 cents.

Moreover, the silent auctions presented by the Friends groups promise rare finds and collectibles, perfect for bibliophiles and collectors alike. From historical texts to guides on natural history, these auctions are a bibliophile’s dream.

The library’s commitment to community engagement extends beyond reading. Events such as the Minecraft party at the Slidell Library and On the Floor Yoga sessions offer diverse activities for all interests and ages. Additionally, the ASK sessions at the Bush Library provide patrons with the opportunity to receive personalized assistance with their technology needs.

The St. Tammany Parish Library continues to be a cornerstone of the community, providing educational, recreational, and cultural opportunities for residents of all ages. With the return of Storytime events and a calendar filled with diverse activities, the library invites everyone to start the new year immersed in the joy of discovery and learning.

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An Uptick in Builder Confidence

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A surge in builder confidence marked a positive turn following a four-month decline, propelled by a drop in mortgage rates and promising economic indicators for the housing sector as we approach 2024.

According to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) released today, builder confidence in the market for newly constructed single-family homes climbed three points to 37 in December.

The recent decrease in mortgage rates by approximately 50 basis points over the past month has rejuvenated builder optimism. Prospective buyers who had previously felt excluded due to pricing are now reevaluating their options, leading to increased traffic, notes NAHB Chairman Alicia Huey, a custom home builder and developer from Birmingham, Ala. Addressing the pressing housing shortage, Huey emphasizes that boosting new home production is a pivotal step to alleviate the affordability crisis, expand housing inventory, and counter inflation.

NAHB Chief Economist Robert Dietz adds that the housing market seems to have navigated the peak mortgage rates for this cycle. This positive development is expected to stimulate home buyer demand in the upcoming months, with the HMI component measuring future sales expectations rising by six points in December.

Dietz acknowledges the recent dip in builder confidence, which contrasts with gains in the pace of single-family permits and starts during the same period. He attributes this temporary discrepancy to dramatic increases in short-term interest rates, impacting land development and builder loans used by private builders. Dietz suggests that as rates moderate, this temporary gap between sentiment and construction activity is likely to diminish.

Despite the positive trend, many builders are still contending with mortgage rates above 7% through November, prompting them to adjust home prices to bolster sales. In December, 36% of builders reported reducing home prices, matching the previous month’s peak for 2023. The average price reduction remained at 6%, unchanged from November. Additionally, 60% of builders offered sales incentives in December, a figure consistent with November but slightly down from 62% in October.

Derived from a monthly survey conducted by NAHB for over 35 years, the NAHB/Wells Fargo HMI assesses builder perceptions of current single-family home sales and sales expectations for the next six months. Scores for each component are used to calculate a seasonally adjusted index, where any number above 50 indicates that more builders view conditions as good than poor.

In December, the HMI index reflecting traffic of prospective buyers rose by three points to 24, the component measuring sales expectations in the next six months increased by six points to 45, and the component charting current sales conditions held steady at 40.

Examining three-month moving averages for regional HMI scores, the Northeast increased by two points to 51, the Midwest declined by one point to 34, the South dropped by three points to 39, and the West posted a four-point decline to 31.

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Rates Are Put on Hold by the Feds

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If you’re in the market to purchase a home, it’s crucial to take note of the recent development wherein the Federal Reserve has opted to maintain stable interest rates. This decision holds significant implications for potential homebuyers, potentially offering more accessible mortgage options. In our most recent blog post, we’ll delve into the repercussions for borrowers and how it might influence your journey towards homeownership.

One of the pivotal factors influencing mortgage rates is the Federal Reserve’s monetary policy. Typically, during robust economic periods, the Fed tends to raise rates to curb inflation. However, given the current economic uncertainties and the necessity to stimulate the market, the Fed has opted to keep rates steady. For homebuyers, this is positive news, signifying that mortgage rates are likely to persist at a favorable level, making homeownership more financially attainable.

The historically low mortgage rates create an excellent opportunity for potential buyers. With rates maintained at their current levels, you have the chance to secure a mortgage at a lower rate, potentially resulting in significant savings over the life of your loan. Whether you’re a first-time buyer entering the market or an existing homeowner planning an upgrade, the present time is particularly opportune to leverage this favorable rate environment.

Furthermore, stable rates not only enhance affordability but also provide peace of mind. As a borrower, you can budget with greater confidence, assured that your mortgage payments will remain consistent in the foreseeable future. This stability enables you to plan your finances more effectively, allowing you to focus on finding your dream home without the concern of unpredictable rate fluctuations.

In summary, the Federal Reserve’s decision to maintain stable rates brings positive tidings for homebuyers. The chance to secure a mortgage at historically low rates is within grasp, providing more affordable options and substantial long-term savings. Seize the opportunity presented by this stable rate environment to turn your homeownership aspirations into reality. Stay tuned for additional insights on navigating the mortgage market in our forthcoming blog posts.

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US Mortgage Rates Continue to Decline, Offering Relief Amidst Housing Affordability Challenges

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In a welcome development for prospective homebuyers, US mortgage rates extended their downward trend this week, providing a respite in the face of the most challenging housing market affordability since the 1980s.

According to data released by Freddie Mac on Thursday, the 30-year fixed-rate mortgage rate dipped to an average of 6.67% in the week ending December 21, down from 6.95% the previous week. This marks the eighth consecutive week of declines, with rates falling below 7% for the first time since mid-August. A year ago, the average 30-year fixed-rate stood at 6.27%.

The sustained decline in mortgage rates has been fueled by expectations of Federal Reserve rate cuts in the coming year. The anticipation of these cuts has contributed to a positive trend, with lower rates drawing potential homebuyers back into the market.

Freddie Mac’s Chief Economist, Sam Khater, noted, “Lower rates are bringing potential homebuyers who were previously waiting on the sidelines back into the market.” Additionally, the positive effects are reaching homebuilders, as evidenced by a rise in confidence and an increase in new home construction levels.

The recent surge in rates, which had exceeded 7% in mid-August and peaked at 7.79% in October, seems to have subsided. The consecutive weeks of declining rates indicate a shift away from the highest mortgage rates of this cycle, offering encouraging news for aspiring homebuyers.

The Federal Reserve’s indication of potential rate cuts in 2024 further supports the expectation of continued decline in mortgage rates, as stated by Lisa Sturtevant, Chief Economist at Bright MLS. While the Fed doesn’t directly set borrower interest rates, its actions influence them, with mortgage rates closely tracking the yield on 10-year US Treasuries.

Projections from Bright MLS suggest that the average fixed-rate mortgage rate could fall to 6.5% by mid-year and decrease further to 6.2% by the end of the next year. Lower rates are anticipated to enhance affordability, with potential monthly savings on mortgage payments for homebuyers.

However, despite the positive impact of lower rates on affordability, a significant obstacle persists – a shortage of housing inventory. The lack of available homes continues to keep prices high and rising, affecting the ability of young buyers to enter the market.

Sturtevant highlighted, “Young buyers are having to delay homebuying as it takes them longer to save for a downpayment and they often have to make offers on multiple homes before they are successful. Many first-time homebuyers have been priced out of the market altogether.”

While lower rates are expected to improve affordability, challenges remain. A report from Redfin reveals that just 15.5% of homes for sale in 2023 were affordable for the typical US household, the lowest share on record. This decline is attributed to both a drop in overall listings and the impact of elevated mortgage rates and high home prices.

As the market cautiously adapts to incremental improvements in affordability, it’s acknowledged that the journey back to balance will be gradual. Mortgage rates and home prices, currently above pre-pandemic levels, are projected to remain elevated through the coming year, maintaining pressure on prices as buyer demand increases.

Realtor.com’s Senior Economic Researcher, Hannah Jones, observed, “Though recent data signals a shift towards a more hospitable housing market, the return to balance will be slow.” Despite the challenges, each incremental gain in affordability is seen as a positive step, gradually thawing the market and offering hope to prospective homebuyers.

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